With Bitcoin, you can use digital cryptocurrencies to complete your betting payments. It is now becoming one of the most popular payment methods for Indian bookmakers. To fully enjoy the benefits of the cryptocurrency, read Bitcoin betting guide. We have have top list of the best Bitcoin betting sites in India. In this unbiased review, we cover the following:
- Background information on Bitcoin Betting Sites
- Security and safety of the cryptocurrency
- Depositing and withdrawing funds using Bitcoin on betting sites
Best Bitcoin Sites in India 2023
About Bitcoin at Betting Sites
Bitcoin is a cryptocurrency. It is an invention by a person, or group of people, who go by the name of Satoshi Nakamoto. Its full release and widespread adoption of the digital currency started in 2009. This digital currency is in use to pay for products and services. Consequently, it also gaining popularity at many online casinos and sportsbooks using Bitcoin.
However, Bitcoin is different from traditional fiat currencies for several reasons. It features a decentralized nature. It means that no central bank or single administrator manage the network. Instead, it uses a peer-to-peer network. Basically, transactions are validated using network nodes. You can earn these digital currencies as a reward through mining. In addition, you can exchange it for products, services, and even other currencies. Furthermore, the Bitcoin network offers secure, private, and transparent transactions.
As of 2017, the University of Cambridge estimated that there were more than 5 million unique users of cryptocurrency wallets. Of course, with Bitcoin as the most popular among users.
How To Choose Bitcoin betting Sites
The selection of the top Bitcoin sportsbook sites involves many factors. The main elements we are taken into account in our analysis are the following:
Trust and Payment Security
Cryptocurrency transactions must always be safe. There is no reason for bettors to continue with a sportsbook if they cannot feel confident. Above all, the money needs to be secure. Therefore, bettors must check the security before selecting a betting site.
Bonus and Promotions
A strong bonus immediately swings the odds in favour of one particular betting site over another. This means, always visit the sportsbook bonus and promotion section. Preferable before making an account. Always remember to read the terms and conditions of the Bitcoin betting site.
Variety of Betting Games
You must ensure that the Bitcoin gambling sites offer a variety of gaming options to the players. Users often have a tonne of alternatives to choose from. Normally including casino games, sports betting, poker, lotteries, and even dice games.
Remember you have the freedom to pick and choose which Bitcoin betting site you prefer. The sites are trying to attract you to join, not vice-versa. Shop around, enjoy welcome bonuses. Find the bitcoin betting site you feel most comfortable using.
How To Bet With Bitcoin on Betting Sites
To fully enjoy the transparent nature of Bitcoin transactions for betting, you first need to register an account. Select one you like in our list of Bitcoin betting sites above. You can rely on our list of bookies we recommend. Just complete the sign-up process by submitting your name, email address, and mobile number. Often, it is important that you have a Bitcoin wallet. Hence, you need to be able to store your digital currencies.
If you are just starting, you first need to create your digital wallet. Furthermore, you need to get your Bitcoin from one of the many popular cryptocurrency exchanges online. Upon confirmation of your Bitcoin betting account, you can start to deposit using the cryptocurrency.
With the gain in popularity of Bitcoin, many betting sites accepting Bitcoin nowadays. Even other industries are becoming more willing to accept it as a payment method. The online gambling and betting sectors are in the forefront of accepting Bitcoin for deposits and withdrawals.
Many Bitcoin betting sites in India allow players to bet on their sites using Bitcoin. Thus, Bitcoin gaining popularity among betting sites in India. Moreover, the use of Bitcoin is also a competitive alternative to conventional fiat currency in the use of online transactions.
To use Bitcoin as a payment method, you must select a Bitcoin sports betting site. Create your account on your site you find above. To create an account with the site, you need to provide the required information. Normally this includes name, email address, phone number, social security number, etc.
Pros and Cons of Betting Sites Using Bitcoin
You will enjoy complete anonymity, top-notch security and access to financial flexibility. In addition, bonuses and speedy processing times while using Bitcoin betting sites. The best part is that Bitcoin sports betting charges less in fees than sites using traditional banking do.
Pros of Betting With Bitcoin
Bigger Bonuses and Promotions
Sportsbooks are keen to offer a whole host of incentives to bettors. Especially when depositing amounts using Bitcoin. Mostly, initial deposit bonuses are 2 times more than the traditional deposit method.
Moreover, Bitcoin betting sites offer other motivational techniques as well. Most often more in deposit bonuses to bettors using Bitcoin. When comparing to the traditional equivalents, Bitcoin reloads incentives have a substantially greater match percentage. Additionally, unlike traditional deposit methods, Bitcoin reloads incentives are often accessible every time you reload. Hence, not just sometimes or periodically.
Safety and Security
It is a safe and secure payment method. You only need to provide your personal information while making a digital wallet account. Most often also when buying Bitcoin from the exchange. However, sports betting sites accepting Bitcoin will not ask you to provide personal information. Although, this is only when you choose Bitcoin as a payment method.
Financial thieves frequently target sports books where money is on the table. Information about bank accounts and credit cards may be a risk. Especially if it ends up in the hands of people with bad intentions. With Bitcoin, as you are not transmitting any sensitive information over the internet, transactions cannot be tampered with.
A Fast and Reliable Way To Deposit the Amount
Deposit and withdrawal from a sports book using Bitcoin is a fast and reliable method. Normally, the deposit of an amount using Bitcoin takes about 4 to 6 minutes. This may be 48 hours in the case of other deposit methods.
Additionally, a withdrawal is also as quick if you compare with other methods. Usually, Bitcoin withdrawal takes place in 48 hours. However, it takes 6 to 7 working days when using other withdrawal methods at sportsbooks.
Low Processing Fees
Normally bettors have to pay a high processing fee while using conventional payment methods. Mainly due to the involvement of a third party in the transactions. But while using Bitcoin, you need only to pay a minor’s fee. Most often this is a nominal amount.
Normally, the sender is responsible for paying a minor fee. Therefore, while depositing the amount on betting sites, you will pay a minor fee. Meanwhile, betting sites will pay a minor fee when you withdraw funds from the betting site.
Cons of Betting With Bitcoin
Instability
Unlike fiat currencies, cryptocurrencies are extremely volatile. If you wager in Bitcoin, the value of a coin may drastically lost value by the time it is paid out. Hence, making your win completely meaningless. However, it can also be the total reverse. Where prices soar and you win even more than you expect.
Slow Transactions
Transactions with coins can take more time than conventional fiat money. For example, withdrawal of the amount from sports betting sites using coins may take a few days.
Digital Currency Issues
Since BTC is an online currency, it too might experience such a collapse. In fact, it has been predicted that the cryptocurrency will fail multiple times. To see this, all you have to do is consider the significant price declines over its history.
Currency Conversion Charges
In case, using coins is online gambling, you have to pay some extra charges. For example, the conversion of coins into your fiat money. The conversion charges vary from different gambling sites or exchange to exchange.
How To Deposit on Betting Sites With Bitcoin
For online Bitcoin betting, you need to create and manage two accounts. Firstly, your sportsbook account and secondly your Bitcoin wallet. Before you proceed to your bookmaker, make sure you purchase your digital coins. You can do this from one of the available cryptocurrency exchanges. You can use your local currency to purchase the coins.
To complete your Bitcoin deposit, go to the sportsbook’s ‘Cashier’ section. Select ‘Deposit’. Some Bitcoin sports betting platforms accept different kinds of cryptocurrencies. Therefore, you need to verify the options and choose ‘Bitcoin’.
Thereafter, type the amount that you want to transfer and click approve. The system will then generate a ‘receivers ID’. This is available in at least two formats. Most Bitcoin betting sites use a sequence of letters and numbers as ID. Keep a copy of the ID for approving the transaction. With this, you can now proceed to your wallet and use this ID to facilitate the transfer.
Deposits using Bitcoin are also processed and credited instantly to your account. There is a big chance that the Bitcoin sportsbook betting site will instantly convert the BTC into USD or EUR. Although, this depending on its policy.
How To Withdraw on Betting Sites With Bitcoin
You can also use Bitcoin to request withdrawals on many Bitcoin betting sites. Withdrawing BTC from sportsbooks follows the same set of procedures. First, you need to visit your account and proceed to a section called ‘Cashier’. Here, you can find transaction records of your deposit and wins. Provide the amount you want to withdraw. Thereafter, choose the Bitcoin wallet to which you want your funds to end up. On most Bitcoin betting sites, you are given the option to automatically convert the BTC to your domestic currency. There is even an option to convert your BTC into another digital currency. Most BTC-based transactions at Bitcoin betting sites are processed within 24 hours.
However, for your first-time request, the processing time is slightly longer. This is part of the industry’s requirement for the ‘Know Your Customer’ policy. The operator needs to verify the account through the submission of scanned ID’s and other documents. This is a one-time request. Your succeeding transactions will be processed using the standard time. Bitcoin betting sites today comply with these regulatory policies. This to prevent underage gambling and to protect customers and bookmakers from fraud.
Are Bookmakers That Use Bitcoin Safe?
All betting sites that accept Bitcoin which we list here are safe and offer a private way of sending and receiving funds. In addition, when you sign up with a bookmaker that is part of our list, you can count on secure and professional services. We review the encryption and cashier services of all Bitcoin betting sites. As a result, you can bet confidently.
Basics of Bitcoin Betting Sites
What Is Blockchain?
A blockchain works by storing information electronically in a digital format. The interest in blockchain has increased dramatically in recent years. Mainly due to its fundamental role in cryptocurrency, significantly Bitcoin. Transactions are recorded in data ‘blocks’. Furthermore, these are connected to the blocks that came before and after. Hence the name Blockchain. Once blocks are chained together, they cannot be altered and therefore tamper-proof.
Information of your liking can be stored on these blocks. These including time, date, transaction amount, names of seller and buyer. Most importunely, the identification number. Blockchain technology has been especially beneficial to users of Bitcoin betting sites. ‘Provably Fair’ utilizes blockchain to ensure results are not tampered with after bets have been placed.
Where Do You Buy Bitcoin?
The thought of purchasing Bitcoin or any other cryptocurrency for that matter might seem daunting, but the reality is quite different. Whether for investing or Bitcoin sports betting, the process is the same. The most important first step is getting yourself an account at one of the numerous crypto exchanges; this is a relatively straightforward task. While anonymity is at the heart of cryptos, you’ll need to identify yourself with certain documents. For the most part, the safest exchanges require a KYC (know your customer). There are types of exchanges (P2P) that don’t require any ID. Once this process is complete, your identity is no longer going to be questioned. Now you’re free to buy Bitcoin in exchange for other currencies.
How To Get a Crypto Wallet
If you want to start Bitcoin sports betting, you’ll need a ‘wallet’. A crypto wallet is where you keep your crypto currency safe. There are a variety of different wallets. The most well-known being ‘hosted’, ‘non-custodial’, and ‘hardware’. A little research will help you to decide which one is right for you. Upon getting a wallet, you’ll be given two sets of ‘keys’. Namely, a public and a private one which are essentially your passwords. There are many ways to store your Bitcoin. However, generally speaking, a hosted wallet is a good place to start. Mainly due to its simplicity and its security benefits.
Which Crypto Exchange Is Right for Me?
There are plenty of great options out there for you to start purchasing Bitcoin. Whether you prefer the extra security of a centralized exchange, or you demand total anonymity, you have great choices. Crypto investors in developing countries tend to prefer decentralized exchanges. Mainly due to the perceived government and banking instability. In the USA for example, the most commonly used exchanges are centralized and abide by strict indication laws and practices. While not totally anonymous, they provide a level of peace of mind. The most popular Bitcoin exchanges include crypto.com, Kraken, and Gemini.
Should I Buy Bitcoin for Betting?
Due to the increase in popularity, many countries have legalized the use of Bitcoin and other cryptocurrencies. El Salvador even went as far as to become the first country to make Bitcoin legal tender. Salvadorans can use Bitcoin in buying and selling goods and services. With crypto becoming more normalized each year, it wouldn’t be a surprise if more nations followed El Salvador. Until you can use crypto in your day-to-day life, Bitcoin betting sites are really taking off. For sure, they are absolutely worth your interest.
Bitcoin Betting Site – FAQ
Which betting sites accept Bitcoin?
If you prefer to use Bitcoin for fund transfers, you’ll be glad to know that there are several sports betting Bitcoin sites. All of them are happy offer their services. Check out our list to find the one you prefer.
How do I use Bitcoin on betting sites?
Before you can top up your bookmaker account, you first need to set up a Bitcoin wallet. Get your Bitcoin from one of the many cryptocurrency exchanges. If you have a wallet in place, just visit the Cashier. Choose ‘Deposit’ and follow the instructions provided.
Why should I use Bitcoin on betting sites?
Bitcoin offers a new way of completing payments online. Compared to traditional currencies, there’s no single central bank or authority that controls the network. All transactions on sports betting Bitcoin sites are also transparent and private. There is no need to share your bank information. Normally, operators only require your Bitcoin email address.
What are the best betting sites for Bitcoin?
For Bitcoin-related transactions, check out our list of recommended sites. Moreover, you can read some of the reviews on this page to find the one best suited for you.
Is cryptocurrency gambling legal, and are the payments genuine?
Crypto gaming is a legitimate business that is growing rapidly. Bitcoins and other cryptocurrency games are more secure than traditional gambling choices. This because of decentralization and the use of blockchain technology. Crypto gaming platforms function similarly to traditional gambling sites that accept bitcoins for withdrawals and deposits. Some sites even produce their own native coinage or cryptocurrency for gaming.
Is it safe to place sports bets with Bitcoins?
Yes, Bitcoins betting is equivalent to betting with fiat money. In fact, in most respects, it is the safer option. The possibility of hacking is far less. In addition, the chance of your information being stolen or shared is almost impossible.
Why do players prefer cryptocurrency sports betting?
Bitcoin sports betting is preferred by many for a number of reasons. Apart from an enthusiasm for cryptos, gamblers can enjoy extra privacy, strong security, and cheaper transaction fees.
Why are BTC betting sites superior to ordinary online sites for gambling?
BTC is safe, quick, and efficient. BTC betting sites can process transactions at a far superior speed than traditional online casinos.
Bitcoin Betting Sites – Conclusion
For punters and casino enthusiasts looking for a reliable way to complete their payments, Bitcoin betting sites are considered some of the best. With your free Bitcoin betting account, you can enjoy an almost instant and private way of depositing and requesting payments. All deposit transactions are credited instantly. Moreover, your withdrawals are often completed within 24 hours. Bitcoin also uses secure technology to protect your wallet. Most wallets today use authentication technology to ensure the integrity of all transactions. Finally, Bitcoin is starting to generate some loyalty in the business. As a results, you can now find Bitcoin focused betting sites. In addition, there are even specific Bitcoin bonuses that can enhance your gaming experience.
Bitcoin betting sites are an excellent choice for gamblers and casino fans looking for a streamlined experience. Above all, it is also trustworthy and secure. Punters can enjoy instant deposits and withdrawals. All deposits are immediately reimbursed. Normally, it takes 24 hours for making a withdrawal from betting sites accepting Bitcoin. The secure technology used by bitcoin also safeguards your wallet. Today’s wallets use different security protocols to guarantee the accuracy of every transaction.
It is not difficult to find betting sites accepting Bitcoin to start your crypto-gambling journey. It is easy to sign-up and once you’re ready, you’ll typically be able to enjoy special bonuses to enhance your gaming experience.
